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MillerCoors shutting down Two Hats beer

MillerCoors shutting down Two Hats beer after less than a year on the market https://www.denverpost.com/2018/08/0...er-going-away/
By THE CHICAGO TRIBUNE
Less than a year after launching the brand, MillerCoors is ending production of Two Hats, the fruit-flavored lagers aimed at younger drinkers who increasingly are being lured away by wine and spirits.

The beer will no longer be sold by early next year.

The decision reflects the challenges facing macro-breweries beset by rising costs and flagging sales. MillerCoors announced its decision to “pull the plug” on its company blog Monday, less than a week after parent company Molson Coors reported disappointing revenue and profit results for MillerCoors for the fiscal quarter.

Under CEO Gavin Hattersley, who was named CEO in September 2015, the proclaimed mission at MillerCoors has been to stop the volume sales decline by 2018 and return to growth by 2019.

That appears unlikely at this point and impossible without turning around Coors Light, its top-selling beer that is in steeper decline than Miller Lite, the company’s other flagship beer. In the company’s Behind the Beer blog on Monday, MillerCoors executives said they planned to focus spending behind Coors Light and Miller Lite, while also increasing investment in “above-premium” brands like Sol and Arnold Palmer Spiked.